Titan Investment Solutions Ltd acquired a new stake in Philip Morris International Inc. (NYSE:PM – Free Report) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 89,850 shares of the company’s stock, valued at approximately $14,412,000. Philip Morris International makes up about 1.7% of Titan Investment Solutions Ltd’s investment portfolio, making the stock its 24th largest position.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Schroder Investment Management Group grew its position in shares of Philip Morris International by 10.2% during the 3rd quarter. Schroder Investment Management Group now owns 302,173 shares of the company’s stock valued at $49,251,000 after acquiring an additional 27,979 shares during the period. Trajan Wealth LLC grew its position in shares of Philip Morris International by 31.2% during the 3rd quarter. Trajan Wealth LLC now owns 132,295 shares of the company’s stock valued at $21,458,000 after acquiring an additional 31,490 shares during the period. Assetmark Inc. grew its position in shares of Philip Morris International by 22.2% during the 4th quarter. Assetmark Inc. now owns 630,583 shares of the company’s stock valued at $101,146,000 after acquiring an additional 114,618 shares during the period. Global Retirement Partners LLC grew its position in shares of Philip Morris International by 40.3% during the 4th quarter. Global Retirement Partners LLC now owns 67,177 shares of the company’s stock valued at $10,775,000 after acquiring an additional 19,309 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Philip Morris International by 7.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 592,681 shares of the company’s stock valued at $91,840,000 after acquiring an additional 43,200 shares during the period. 78.63% of the stock is owned by institutional investors.
Philip Morris International Trading Up 2.0%
PM opened at $184.41 on Friday. The company has a 50 day moving average of $172.61 and a 200 day moving average of $169.80. The company has a market cap of $287.41 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38. Philip Morris International Inc. has a 12 month low of $142.11 and a 12 month high of $193.05.
Philip Morris International Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Thursday, June 25th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Thursday, June 25th. This represents a $5.88 annualized dividend and a yield of 3.2%. Philip Morris International’s dividend payout ratio (DPR) is 82.70%.
Wall Street Analysts Forecast Growth
PM has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and set a $200.00 target price on shares of Philip Morris International in a research report on Thursday, April 23rd. Morgan Stanley increased their target price on shares of Philip Morris International from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, May 20th. Bank of America reaffirmed a “buy” rating on shares of Philip Morris International in a report on Thursday, May 21st. Finally, UBS Group cut their price objective on shares of Philip Morris International from $181.50 to $168.00 and set a “neutral” rating for the company in a report on Friday, April 17th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.88.
Get Our Latest Report on Philip Morris International
Philip Morris International Profile
Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.
PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.
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